Singapore legislation
Clause 20
Clause 20
Managing agent
(1)
Subject to subsection (2), a body corporate may, by instrument in writing, appoint a managing agent and may, by instrument in writing, delegate to him —
all of its powers, duties and functions;
any one or more of its powers, duties and functions specified in the instrument; or
all of its powers, duties and functions except those specified in the instrument,and may in like manner revoke wholly or in part the delegation.
(2)
A body corporate shall not under subsection (1) delegate to a managing agent its power to make —
a delegation under that subsection; or
a decision on a matter which may be determined only by the body corporate in general meeting.
(3)
A power, duty or function the exercise or performance of which has been delegated under subsection (1) may, while the delegation remains unrevoked, be exercised from time to time in accordance with the delegation.
(4)
A delegation under subsection (1) may be made subject to such conditions or such limitations as to the exercise or performance of all or any of the powers, duties or functions, or as to time or circumstances, as may be specified in the instrument of delegation.
(5)
Notwithstanding any delegation made under subsection (1), a body corporate may continue to exercise or perform all or any of the delegated powers, duties or functions.
(6)
Any act or thing done or suffered by a managing agent while acting in the exercise of a delegation under subsection (1) shall have the same force and effect as if it had been done or suffered by the body corporate and shall be deemed to have been done or suffered by the body corporate.
(7)
Where the instrument of his appointment so provides, a managing agent shall have and may exercise and perform all the powers, duties and functions of the chairman, secretary or treasurer of the body corporate and the committee or such of those powers, duties and functions as may be specified in the instrument.